This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
Rules and Regulations Federal Register
79529
Vol. 76, No. 246
Thursday, December 22, 2011
1 Public Law 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2011–0027]
RIN 1557–AD60
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1437]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, and the
FDIC (collectively, the ‘‘agencies’’) are
amending their Community
Reinvestment Act (CRA) regulations to
adjust the asset-size thresholds used to
define ‘‘small bank’’ or ‘‘small savings
association’’ and ‘‘intermediate small
bank’’ or ‘‘intermediate small savings
association.’’ As required by the CRA
regulations, the adjustment to the
threshold amount is based on the
annual percentage change in the
Consumer Price Index.
DATES: Effective Date: January 1, 2012.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Special Counsel,
Community and Consumer Law
Division, (202) 874–5750; or Brian
Borkowicz, National Bank Examiner,
Compliance Policy Division, (202)
874–4428, Office of the Comptroller of
the Currency, 250 E Street SW.,
Washington, DC 20219.
Board: Celeste Anderson, Senior
Supervisory Consumer Financial
Services Analyst, (202) 452–2677; or
Nikita Pastor, Counsel, (202) 452–
3667, Division of Consumer and
Community Affairs, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue NW., Washington, DC 20551.
FDIC: Janet R. Gordon, Senior Policy
Analyst, Division of Depositor and
Consumer Protection, Supervisory
Policy Branch, (202) 898–3850; or
Susan van den Toorn, Counsel, Legal
Division, (202) 898–8707, Federal
Deposit Insurance Corporation, 550
17th Street NW., Washington, DC
20429.
SUPPLEMENTARY INFORMATION:
Background and Description of the
Joint Final Rule
The agencies’ CRA regulations
establish CRA performance standards
for small and intermediate small banks
and savings associations. The
regulations define small and
intermediate small institutions by
reference to asset-size criteria expressed
in dollar amounts, and they further
require the agencies to publish annual
adjustments to these dollar figures based
on the year-to-year change in the
average of the Consumer Price Index for
Urban Wage Earners and Clerical
Workers (CPIW), not seasonally
adjusted, for each twelve-month period
ending in November, with rounding to
the nearest million. 12 CFR 25.12(u)(2),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2). This adjustment formula
was first adopted for CRA purposes by
the OCC, Board, and FDIC on August 2,
2005, effective September 1, 2005. 70 FR
44256 (Aug. 2, 2005). As explained in
the SUPPLEMENTARY INFORMATION section
of these agencies’ proposed rule, this
particular index is used in other federal
lending regulations such as the Home
Mortgage Disclosure Act (HMDA). 70 FR
12148 (Mar. 22, 2007). See 12 U.S.C.
2808; 12 CFR 203.2(e)(1). On March 22,
2007, and effective July 1, 2007, the
Office of Thrift Supervision (OTS), the
agency responsible for regulating
savings associations, adopted an annual
adjustment formula consistent with that
of the other federal banking agencies in
its CRA rule set forth at 12 CFR 563e.
72 FR 13429. Pursuant to the Dodd-
Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act),1 and
effective July 21, 2011, rulemaking
authority for federal and state savings
associations was transferred from the
OTS to OCC, and the OCC subsequently
republished, at 12 CFR 195, the CRA
regulations applicable to those
institutions.2 In addition, the Dodd-
Frank Act transferred responsibility for
supervision of savings and loan holding
companies and their non-depository
subsidiaries from the OTS to the Board,
and the Board subsequently amended its
CRA regulation to reflect this transfer of
supervision authority.3
The threshold for small banks and
small savings associations was revised
most recently effective January 1, 2011
(75 FR 82217 (Dec. 30, 2010)). The CRA
regulations, effective January 1, 2011,
provide that banks and savings
associations that, as of December 31 of
either of the prior two calendar years,
had assets of less than $1.122 billion are
‘‘small banks’’ or ‘‘small savings
associations.’’ Small banks and small
savings associations with assets of at
least $280 million as of December 31 of
both of the prior two calendar years and
less than $1.122 billion as of December
31 of either of the prior two calendar
years are ‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule further
revises these thresholds.
During the period ending November
2011, the CPIW increased by 3.43
percent. As a result, the agencies are
revising 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1) to make this annual
adjustment. Beginning January 1, 2012,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.160 billion are ‘‘small banks’’ or
‘‘small savings associations.’’ Small
banks or small savings associations with
assets of at least $290 million as of
December 31 of both of the prior two
calendar years and less than $1.160
billion as of December 31 of either of the
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jlentini on DSK4TPTVN1PROD with RULES
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
Rules and Regulations Federal Register
79529
Vol. 76, No. 246
Thursday, December 22, 2011
1 Public Law 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2011–0027]
RIN 1557–AD60
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1437]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, and the
FDIC (collectively, the ‘‘agencies’’) are
amending their Community
Reinvestment Act (CRA) regulations to
adjust the asset-size thresholds used to
define ‘‘small bank’’ or ‘‘small savings
association’’ and ‘‘intermediate small
bank’’ or ‘‘intermediate small savings
association.’’ As required by the CRA
regulations, the adjustment to the
threshold amount is based on the
annual percentage change in the
Consumer Price Index.
DATES: Effective Date: January 1, 2012.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Special Counsel,
Community and Consumer Law
Division, (202) 874–5750; or Brian
Borkowicz, National Bank Examiner,
Compliance Policy Division, (202)
874–4428, Office of the Comptroller of
the Currency, 250 E Street SW.,
Washington, DC 20219.
Board: Celeste Anderson, Senior
Supervisory Consumer Financial
Services Analyst, (202) 452–2677; or
Nikita Pastor, Counsel, (202) 452–
3667, Division of Consumer and
Community Affairs, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue NW., Washington, DC 20551.
FDIC: Janet R. Gordon, Senior Policy
Analyst, Division of Depositor and
Consumer Protection, Supervisory
Policy Branch, (202) 898–3850; or
Susan van den Toorn, Counsel, Legal
Division, (202) 898–8707, Federal
Deposit Insurance Corporation, 550
17th Street NW., Washington, DC
20429.
SUPPLEMENTARY INFORMATION:
Background and Description of the
Joint Final Rule
The agencies’ CRA regulations
establish CRA performance standards
for small and intermediate small banks
and savings associations. The
regulations define small and
intermediate small institutions by
reference to asset-size criteria expressed
in dollar amounts, and they further
require the agencies to publish annual
adjustments to these dollar figures based
on the year-to-year change in the
average of the Consumer Price Index for
Urban Wage Earners and Clerical
Workers (CPIW), not seasonally
adjusted, for each twelve-month period
ending in November, with rounding to
the nearest million. 12 CFR 25.12(u)(2),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2). This adjustment formula
was first adopted for CRA purposes by
the OCC, Board, and FDIC on August 2,
2005, effective September 1, 2005. 70 FR
44256 (Aug. 2, 2005). As explained in
the SUPPLEMENTARY INFORMATION section
of these agencies’ proposed rule, this
particular index is used in other federal
lending regulations such as the Home
Mortgage Disclosure Act (HMDA). 70 FR
12148 (Mar. 22, 2007). See 12 U.S.C.
2808; 12 CFR 203.2(e)(1). On March 22,
2007, and effective July 1, 2007, the
Office of Thrift Supervision (OTS), the
agency responsible for regulating
savings associations, adopted an annual
adjustment formula consistent with that
of the other federal banking agencies in
its CRA rule set forth at 12 CFR 563e.
72 FR 13429. Pursuant to the Dodd-
Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act),1 and
effective July 21, 2011, rulemaking
authority for federal and state savings
associations was transferred from the
OTS to OCC, and the OCC subsequently
republished, at 12 CFR 195, the CRA
regulations applicable to those
institutions.2 In addition, the Dodd-
Frank Act transferred responsibility for
supervision of savings and loan holding
companies and their non-depository
subsidiaries from the OTS to the Board,
and the Board subsequently amended its
CRA regulation to reflect this transfer of
supervision authority.3
The threshold for small banks and
small savings associations was revised
most recently effective January 1, 2011
(75 FR 82217 (Dec. 30, 2010)). The CRA
regulations, effective January 1, 2011,
provide that banks and savings
associations that, as of December 31 of
either of the prior two calendar years,
had assets of less than $1.122 billion are
‘‘small banks’’ or ‘‘small savings
associations.’’ Small banks and small
savings associations with assets of at
least $280 million as of December 31 of
both of the prior two calendar years and
less than $1.122 billion as of December
31 of either of the prior two calendar
years are ‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule further
revises these thresholds.
During the period ending November
2011, the CPIW increased by 3.43
percent. As a result, the agencies are
revising 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1) to make this annual
adjustment. Beginning January 1, 2012,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.160 billion are ‘‘small banks’’ or
‘‘small savings associations.’’ Small
banks or small savings associations with
assets of at least $290 million as of
December 31 of both of the prior two
calendar years and less than $1.160
billion as of December 31 of either of the
VerDate Mar<15>2010 16:24 Dec 21, 2011 Jkt 226001 PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 E:\FR\FM\22DER1.SGM 22DER1
jlentini on DSK4TPTVN1PROD with RULES
79530 Federal Register / Vol. 76, No. 246 / Thursday, December 22, 2011 / Rules and Regulations
prior two calendar years are
‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ The agencies also publish
current and historical asset-size
thresholds on the Web site of the
Federal Financial Institutions
Examination Council at http://
www.ffiec.gov/cra/.
Administrative Procedure Act and
Effective Date
Under 5 U.S.C. 553(b)(B) of the
Administrative Procedure Act (APA), an
agency may, for good cause, find (and
incorporate the finding and a brief
statement of reasons therefore in the
rules issued) that notice and public
procedure thereon are impracticable,
unnecessary, or contrary to the public
interest.
The amendments to the regulations to
adjust the asset-size thresholds for small
and intermediate small banks and
savings associations result from the
application of a formula established by
a provision in the CRA regulations that
the agencies previously published for
comment. See 70 FR 12148 (Mar. 11,
2005), 70 FR 44256 (Aug. 2, 2005), 71
FR 67826 (Nov. 24, 2006), and 72 FR
13429 (Mar. 22, 2007). Sections
25.12(u)(1), 195.12(u)(1), 228.12(u)(1),
and 345.12(u)(1) are amended by
adjusting the asset-size thresholds as
provided for in §§ 25.12(u)(2),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2).
Accordingly, since the agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria, the agencies
have determined that publishing a
notice of proposed rulemaking and
providing opportunity for public
comment are unnecessary.
The effective date of this joint final
rule is January 1, 2012. Under 5 U.S.C.
553(d)(3) of the APA, the required
publication or service of a substantive
rule shall be made not less than 30 days
before its effective date, except, among
other things, as provided by the agency
for good cause found and published
with the rule. Because this rule adjusts
asset-size thresholds consistent with the
procedural requirements of the CRA
rules, the agencies conclude that it is
not substantive within the meaning of
the APA’s delayed effective date
provision. Moreover, the agencies find
that there is good cause for dispensing
with the delayed effective date
requirement, even if it applied, because
their current rules already provide
notice that the small and intermediate
asset-size thresholds will be adjusted as
of December 31 based on twelve-month
data as of the end of November each
year.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking where a
general notice of proposed rulemaking
is not required. 5 U.S.C. 603 and 604.
As noted previously, the agencies have
determined that it is unnecessary to
publish a general notice of proposed
rulemaking for this joint final rule.
Accordingly, the RFA’s requirements
relating to an initial and final regulatory
flexibility analysis do not apply.
Paperwork Reduction Act of 1995
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR 1320), the agencies reviewed this
final rule. No collections of information
pursuant to the Paperwork Reduction
Act are contained in the final rule.
Unfunded Mandates Reform Act of
1995
Section 202 of the Unfunded
Mandates Reform Act of 1995, 2 U.S.C.
1532 (Unfunded Mandates Act),
requires that an agency must prepare a
budgetary impact statement before
promulgating any final rule for which a
general notice of proposed rulemaking
was published. As discussed above, the
agencies have determined that the
publication of a general notice of
proposed rulemaking is unnecessary.
Accordingly, this joint final rule is not
subject to section 202 of the Unfunded
Mandates Act.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 195
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
12 CFR Part 228
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 345
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
For the reasons discussed in the
SUPPLEMENTARY INFORMATION section, 12
CFR parts 25 and 195 are amended as
follows:
PART 25—COMMUNITY
REINVESTMENT ACT AND
INTERSTATE DEPOSIT PRODUCTION
REGULATIONS
■ 1. The authority citation for part 25
continues to read as follows:
Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36,
93a, 161, 215, 215a, 481, 1814, 1816, 1828(c),
1835a, 2901 through 2908, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.160
billion. Intermediate small bank means
a small bank with assets of at least $290
million as of December 31 of both of the
prior two calendar years and less than
$1.160 billion as of December 31 of
either of the prior two calendar years.
* * * * *
PART 195—COMMUNITY
REINVESTMENT
■ 3. The authority citation for part 195
continues to read as follows:
Authority: 12 U.S.C. 1462a, 1463, 1464,
1814, 1816, 1828(c), 2901 through 2908, and
5412(b)(2)(B).
■ 4. Revise § 195.12(u)(1) to read as
follows:
§ 195.12 Definitions.
* * * * *
(u) Small savings association—(1)
Definition. Small savings association
means a savings association that, as of
December 31 of either of the prior two
calendar years, had assets of less than
$1.160 billion. Intermediate small
savings association means a small
savings association with assets of at
least $290 million as of December 31 of
both of the prior two calendar years and
less than $1.160 billion as of December
31 of either of the prior two calendar
years.
* * * * *
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jlentini on DSK4TPTVN1PROD with RULES
prior two calendar years are
‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ The agencies also publish
current and historical asset-size
thresholds on the Web site of the
Federal Financial Institutions
Examination Council at http://
www.ffiec.gov/cra/.
Administrative Procedure Act and
Effective Date
Under 5 U.S.C. 553(b)(B) of the
Administrative Procedure Act (APA), an
agency may, for good cause, find (and
incorporate the finding and a brief
statement of reasons therefore in the
rules issued) that notice and public
procedure thereon are impracticable,
unnecessary, or contrary to the public
interest.
The amendments to the regulations to
adjust the asset-size thresholds for small
and intermediate small banks and
savings associations result from the
application of a formula established by
a provision in the CRA regulations that
the agencies previously published for
comment. See 70 FR 12148 (Mar. 11,
2005), 70 FR 44256 (Aug. 2, 2005), 71
FR 67826 (Nov. 24, 2006), and 72 FR
13429 (Mar. 22, 2007). Sections
25.12(u)(1), 195.12(u)(1), 228.12(u)(1),
and 345.12(u)(1) are amended by
adjusting the asset-size thresholds as
provided for in §§ 25.12(u)(2),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2).
Accordingly, since the agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria, the agencies
have determined that publishing a
notice of proposed rulemaking and
providing opportunity for public
comment are unnecessary.
The effective date of this joint final
rule is January 1, 2012. Under 5 U.S.C.
553(d)(3) of the APA, the required
publication or service of a substantive
rule shall be made not less than 30 days
before its effective date, except, among
other things, as provided by the agency
for good cause found and published
with the rule. Because this rule adjusts
asset-size thresholds consistent with the
procedural requirements of the CRA
rules, the agencies conclude that it is
not substantive within the meaning of
the APA’s delayed effective date
provision. Moreover, the agencies find
that there is good cause for dispensing
with the delayed effective date
requirement, even if it applied, because
their current rules already provide
notice that the small and intermediate
asset-size thresholds will be adjusted as
of December 31 based on twelve-month
data as of the end of November each
year.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking where a
general notice of proposed rulemaking
is not required. 5 U.S.C. 603 and 604.
As noted previously, the agencies have
determined that it is unnecessary to
publish a general notice of proposed
rulemaking for this joint final rule.
Accordingly, the RFA’s requirements
relating to an initial and final regulatory
flexibility analysis do not apply.
Paperwork Reduction Act of 1995
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR 1320), the agencies reviewed this
final rule. No collections of information
pursuant to the Paperwork Reduction
Act are contained in the final rule.
Unfunded Mandates Reform Act of
1995
Section 202 of the Unfunded
Mandates Reform Act of 1995, 2 U.S.C.
1532 (Unfunded Mandates Act),
requires that an agency must prepare a
budgetary impact statement before
promulgating any final rule for which a
general notice of proposed rulemaking
was published. As discussed above, the
agencies have determined that the
publication of a general notice of
proposed rulemaking is unnecessary.
Accordingly, this joint final rule is not
subject to section 202 of the Unfunded
Mandates Act.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 195
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
12 CFR Part 228
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 345
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
For the reasons discussed in the
SUPPLEMENTARY INFORMATION section, 12
CFR parts 25 and 195 are amended as
follows:
PART 25—COMMUNITY
REINVESTMENT ACT AND
INTERSTATE DEPOSIT PRODUCTION
REGULATIONS
■ 1. The authority citation for part 25
continues to read as follows:
Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36,
93a, 161, 215, 215a, 481, 1814, 1816, 1828(c),
1835a, 2901 through 2908, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.160
billion. Intermediate small bank means
a small bank with assets of at least $290
million as of December 31 of both of the
prior two calendar years and less than
$1.160 billion as of December 31 of
either of the prior two calendar years.
* * * * *
PART 195—COMMUNITY
REINVESTMENT
■ 3. The authority citation for part 195
continues to read as follows:
Authority: 12 U.S.C. 1462a, 1463, 1464,
1814, 1816, 1828(c), 2901 through 2908, and
5412(b)(2)(B).
■ 4. Revise § 195.12(u)(1) to read as
follows:
§ 195.12 Definitions.
* * * * *
(u) Small savings association—(1)
Definition. Small savings association
means a savings association that, as of
December 31 of either of the prior two
calendar years, had assets of less than
$1.160 billion. Intermediate small
savings association means a small
savings association with assets of at
least $290 million as of December 31 of
both of the prior two calendar years and
less than $1.160 billion as of December
31 of either of the prior two calendar
years.
* * * * *
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